Do Kwon, the CEO of Terraform Labs who is currently under investigation by the police for counts of fraud, tax evasion and other violations of financial regulations, is reportedly filing for Luna 2.0. relist when they start issuing. According to rumors, huhhis words; ‘list please’ Luna 2.0’ was sent via Telegram through a contact believed to be a Terraform Labs employee in Singapore to five exchanges that support KRW trading in Korea.

LUNA now at the mercy of exchange favors

CEO Kwon took to Twitter on May 18 to say; “Let’s call the existing Terra blockchain network ‘Terra Classic’ and the existing Luna ‘Luna Classic’ and create a new Terra blockchain.”

The validators’ votes were cast and on the 25th the total turnout was 80.99%, and ‘agree’ was impressive at 67.27%, indicating a very high chance of success.

However, as Do Kwon is under investigation by the police, Do Kwon’s whereabouts are currently unknown. Financial crime investigation teams have also set their sights on Kwon and as a result, the domestic exchange seems to be keeping Terra at bay. The contacted domestic exchange platforms have reportedly responded coldly to Terraform Labs’ request; “If you want to be on the list, go through the official listing process.”

Terra seems to be a new version of LUNA . to relaunch

After the tragic crash of LUNA and its sister stablecoin UST, Terraform Labs has reaffirmed their announcement to launch Luna 2.0, promising to be a ‘genesis blockchain from block 0 with no dApps launch’

The new blockchain has been confirmed for release on May 27 by Terraform Labs and it has been announced that it will not share any history with Terra classic.

The organization clarified that the plan is to “Fork the Terra chain in a new chain without the algorithmic stable coin. The old chain will be called Terra Classic (token Luna Classic – LUNC) and the new chain will be called Terra (token Luna – LUNA).”

The new tokens are expected to be dropped across Luna Classic strikers, Luna Classic holders, remaining UST holders, and Terra Classic essential app developers.

Sunil is a serial entrepreneur and has been working in blockchain and cryptocurrency space for 2 years now. Previously, he was a co-founder of Govt. of India supported startup InThinks and is currently editor-in-chief at Coingape and CEO at SquadX, a fintech startup. He has published over 100 articles on cryptocurrency and blockchain and has assisted a number of ICOs in their success. He co-designed an industry training for blockchain development and has conducted many interviews in the past. Follow him on Twitter @shamasunil8114 and contact him at sunil (at)

The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication is not responsible for your personal financial loss.

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